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Aeolus Tire intends to participate in PTG asset restructuring

 Last Update: 2021-06-21
 Source: Internet
 Author: User

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Recently, Aeolus Tire Co.
, Ltd.
announced that it intends to invest 266 million euros (approximately 2.
07 billion yuan) to purchase a major asset restructuring plan for a 38% stake in PTG
.

In this asset reorganization, Aeolus Tire intends to purchase it through its wholly-owned subsidiary Aeolus (Hong Kong) through cash payment
.

The counterparty of the transaction is High Grade (HK) Investment Management Limited (HG), and the underlying asset of the transaction is a 38% stake in Prometeon TyreGroup Srl (PTG)

On June 1, HG released information on the transfer of state-owned property rights on the Beijing Equity Exchange, which was publicly listed for transfer.
HG holds a 38% stake in PTG, and the listed price is EUR 2017.
78 million
.

Aeolus Tire, which has the right of first refusal in this transaction, intends to participate in the bidding at a price not exceeding 266 million euros

It is reported that starting from December 1, 2020, the equity will be managed by Fengshen shares for a period of 3 years
.

Since PTG is still an independent legal entity after the cash purchase of assets is completed, this transaction does not involve the placement of employees and the transfer of credits and debts

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